Congress at odds over benefits of tax reform

by AnnaMaria DiPietro, Sinclair Broadcast Group

FILE - In this Thursday, Nov. 30, 2017, file photo, the sky over The Capitol is lit up at dawn as Senate Republicans work to pass their sweeping tax bill this week in Washington, (AP Photo/J. Scott Applewhite)

“Now we’ve doubled the standard deduction, so your first $24,000 of income is tax free,” Marc Short, White House director of legislative affairs, said. “We’ve also doubled the child tax credit, so if you’re a working family with children, you now get a $2,000 credit per child.”

But Democrats argue that the tax plan helps big corporations – and is toxic for the economy.

“Most of this bill is just about a corporate tax cut,” Lloyd Doggett, D-Tex., said. “The sugar coating has been added to make it a little easier to swallow. I think it’s a job killer, that it will not grow our economy, and so do most economists that have looked at it.”